Help creating Pro Forma Balance Sheet

Sales Budget	October	November	December	Total-Qtr
Cash sales	168,000	210,000	262,500	640,500
Sales on account	112,000	140,000	175,000	175,000
Total budgeted sales	280,000	350,000	437,500	1,067,500
Schedule of Cash Receipts	October	November	December	Total-Qtr
Current cash sales	168,000	210,000	262,500	640,500
Plus collections from A/R	-	112,000	140,000	252,000
Total collections	168,000	322,000	402,500	892,500
				(Hint- these do not all just get added across!)
Inventory Purchases Budget	October	November	December	Total-Qtr
Budgeted cost of goods sold	224,000	280,000	350,000	854,000
Plus desired ending inventory	84,000	105,000	60,000	60,000
Inventory needed	308,000	385,000	410,000	914,000
Less beginning inventory	-	84,000	105,000	-
Required purchases (on account)	308,000	301,000	305,000	914,000
				check math
				vertically too
Schedule of Cash Payments Budget for Inventory Purchases
	October	November	December	Total-Qtr
Payment of current month's A/P	61,600	60,200	61,000	182,800
Payment for prior month's A/P	-	246,400	240,800	487,200
Total budgeted payments	61,600	306,600	301,800	670,000
Selling and Administrative Expense Budget
	October	November	December	Total-Qtr
Salary expense	21,500	21,500	21,500	64,500
Sales commissions expense	8,400	10,500	13,125	32,025
Supplies expense	2,800	3,500	4,375	10,675
Utilities Expense	2,300	2,300	2,300	6,900
Depreciation expense on store fixtures	8,375	8,375	8,375	25,125
Rent expense	8,000	8,000	8,000	24,000
Miscellaneous expense	1,250	1,250	1,250	3,750
Total S&A expenses	52,625	55,425	58,925	166,975
Schedule of Cash Payments for S&A Expenses (Some balances may be zero.)
	October	November	December	Total-Qtr
Salaries	21,500	21,500	21,500	64,500
Sales commissions	-	8,400	10,500	18,900
Supplies expense	2,800	3,500	4,375	10,675
Utilities	-	2,300	2,300	4,600
Depreciation on store fixtures	-	-	-	-
Rent	8,000	8,000	8,000	24,000
Miscellaneous	1,250	1,250	1,250	3,750
Total payments for S&A expenses	33,550	44,950	47,925	126,425
				(Hint- these do not all just get added across!)
Cash Budget	October	November	December	Total-Qtr
Beginning cash balance	-	10,850	10,420	-
Issuance of stock	300,000	-	-	300,000
Collections from customers	168,000	322,000	402,500	892,500
Cash available	468,000	332,850	412,920	1,192,500
Less payments	just a heading- no input this line
For inventory purchases	61,600	306,600	301,800	670,000
For S&A expenses	33,550	44,950	47,925	126,425
Purchase of store fixtures	450,000	-	-	450,000
Pay dividend	-	-	40,000	40,000
Interest expense	-	880	1,180	2,060
Total budgeted payments	545,150	352,430	390,905	1,288,485
Cash balance before borrow/repay	(77,150)	(19,580)	22,015	(95,985)
Financing activity	just a heading- no input this line
Borrowing (repayment)	88,000	30,000	(12,000)	106,000
Ending cash balance	10,850	10,420	10,015	10,015
				check math
				vertically too
BUDGETS H and I below must be completed in OWL, question 2 for grading.
You can do them below, if it helps you. They will not be graded as part of the excel part of the project.
Pro Forma Income Statement
For the Quarter Ended December 31, Year1
Sales revenue	1,067,500
Cost of goods sold	(854,000)
Gross margin	213,500
S&A expenses	(166,975)
Operating income	46,525
Interest expense	(2,060)
Net income	44,465
Pro Forma Balance Sheet
For the Quarter Ended December 31, Year1
Assets	no input
Cash
Accounts receivable
Inventory
Store fixtures
Accumulated depreciation
Total assets
Liabilities	no input
Accounts payable
Utilities payable
Sales commissions payable
Line of credit liability
Total liabilities
Equity	no input
Common stock
Retained earnings
Total equity
Total liabilities and equity